Filing requirements for licensing as business rescue practitioner (COR126.1)

Note that Notice 02 of 2019 is hereby withdrawn and replaced by Notice 23 of 2022

As from 15 June 2021, information relating to the form CoR126.1 and legal documents in terms of section 138 (1) of the Companies Act 71 of 2008 (“the Act”), must be submitted via the electronic platform New e-Services,
www.cipc.co.za/Enterprise Registration/New e-Services. Manual forms for licensing will no longer be accepted as being submitted or filed if it was received via email to cor126.1@cipc.co.za.

Documents to be submitted:

  •  A comprehensive résumé (CV) containing full and detailed particulars of the applicant’s history and relevant experience of active engagement in a business turnaround and/or business rescue activities.
    A schedule of experience including the following must be supplied:

                  Enterprise Name and Number for which business turnaround or business rescue was conducted;
                  Duration dd/mm/yyyy;
                  Specific role the incumbent had or is having in the company; and
                  Outcome;

  • Supporting documentation to substantiate the information in respect of the history and relevant practical experience, (provide references).
  • Copy of a valid TAX clearance certificate (individual).
  •  Letter of Good Standing from the Accredited Professional Body by the Commission.
  • A Sworn statement in terms of Section 138 (1) stating that the applicant:-
           a. Is not subject to an order of probation in terms of section 162 (7);
           b. Would not be disqualified from acting as a director of the company in terms of section 69 (8);
            and
            c. Is of sound financial status; 
  • The applicant must adhere to the concurrent application of Section 5(6) of the Companies Act 71 of
    2008 as amended, in case of a listed entity.

NB: A person who knowingly provides false information to the Commission commits an offense

Filing requirements for licensing as business rescue practitioner (COR126.1)

Filing requirements for appointment of business rescue practitioner (COR123.2)

Note that Notice 65 of 2018 is hereby withdrawn and replaced by Notice 22 of 2022

As from 15 June 2021, information relating to the form CoR123.2 and legal documents in terms of Regulations 123(3), and filed in accordance with section 129(3)(b) of the Companies Act 71 of 2008 (“the Act”), must be
submitted via the electronic platform New e-Services, www.cipc.co.za / Enterprise Registration / New e-Services. Manual forms for licensing will no longer be accepted as being submitted or filed if it was received via email to cor123.2@cipc.co.za.

Documents to be submitted

  • The filing of the CoR123.2 must be done by the company and anyone filing on behalf of the company other than the director/member of the company or cc respectively must submit a mandate from the company authorizing him/her to file the CoR123.2 on behalf of the company; (customer code owner must be that of the company representative –director/member)
  • Signed system generated CoR123.2;
  • Court order in the event that the proceedings and/or appointment was done through the court;
  • Certified ID copy of the Authorized person who signed the form;
  • Power of Attorney/Mandate must be attached in an event that a third party signed on behalf of the
    Company that is if the signatory’s name does not reflect on ERMS as a Director / Member;
  • Certified ID copy of the appointed Business Rescue Practitioner;
  • Letter of Good standing from the Business Rescue Practitioner’s Professional Body Accredited by the
    Commission;
  •  Current individual Tax Clearance Certificate of the Business Rescue Practitioner;
  •  Consent letter by Practitioner accepting the appointment, reflecting the following information:
           Full names and surname;
           ID number of appointed Business Rescue Practitioner;
           Contact details of practitioner, (e-mail address, cell number, and telephone numbers);
           Addresses of the appointed Business Rescue Practitioner (Office);
           Not subject to an order of probation in terms of section 162(7);
           Would not be disqualified from acting as a director of the company in terms of section 69 (8);
           Does not have any other relationship with the company
           Is not related to a person who has a relationship contemplated in paragraph (d); and
           Is of sound financial status.

NB: A person who knowingly provides false information to the Commission commits an offense.

Filing requirements for the appointment of business rescue practitioner (COR123.2)

Update: status on file transition project

UPDATE: STATUS ON FILE TRANSITION PROJECT

The Notice (Notice 62 of 2021) issued by CIPC of file transition project has reference. The contract handover project of moving 7.2 million Companies, Close Corporation, Trade Marks, Design, Copyright and Cooperatives files to the new storage facility was completed on 26 November 2021.

There will be a delay of unavailability of files, while the new service provider takes the files on board to label and capture them on their systems for recording and retrieval purposes. Retrieval of files will still not be optimal and delays will be experienced until the end of November 2022 as we anticipate the end date of capturing more than 7.2 million files.

The request for Paper Based Disclosures must be lodged via the “enquiries portal’ on the CIPC website. The ticket must be directed to Companies and Close Corporation Paper Based Disclosures. Customers need to ensure that the correct customer code is reflected in the request with the entity name and entity number and must clearly indicate the document(s) requested. A postal address must also be provided in respect of all requests for certified copies.

NB: Only one request per ticket must be submitted per entity. If multiple requests are submitted from the one request, only the first entry will be considered. No perusal of files will be allowed until further notice.

The Paper Based Disclosure team shall for effective control no longer consider any enquiries by email. All enquiries need to be directed via the ‘enquiries portal”. Paper based disclosure requests must not be resubmitted to prevent duplication, as the current Paper Based Disclosure Workflow shall remain open until the file is retrieved. Various CIPC business units are impacted by the file transition as reflected above.

CIPC apologises for any inconveniences that may be causes as a result of the transition period and request that clients continue to be patient.

Status on file transition project